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but we managed to do both budget and debt ceiling deals before. we've done a fiscal cliff deal. we need to give ourselves breathing space but that's going to take really serious spending cuts from the administration. those things are on the table, not just through the debt ceiling and through sequester and continuing resolution, i would hope the president put things on the table that he put on there in the summer of 2011 and more recently things like to change like looking at raising gradually rates of eligibility and means testing. there's really important structural changes that need to happen to give the country fiscal stability. but the aadministration will have to stand up to its own party and produce bold ideas and frankly be willing to work with republicans to get the job done. >> one thing i want to show everybody is politico having this front page profile, the hell no caucus, backed up by the conservative group the club for growth. congressman from arkansas cotton saying, that he would have voted both speaker boehner plan b on millionaires in the final tax hike and vowe
but we managed to do both budget and debt ceiling deals before. we've done a fiscal cliff deal. we need to give ourselves breathing space but that's going to take really serious spending cuts from the administration. those things are on the table, not just through the debt ceiling and through sequester and continuing resolution, i would hope the president put things on the table that he put on there in the summer of 2011 and more recently things like to change like looking at raising gradually...
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Jan 24, 2013
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. >>> republican reset, with a short-term debt ceiling deal in motion, speaker boehner and paul ryan talk tough on the party's path forward. this morning, we'll talk to another top house republican, georgia's tom price, about the challenges ahead. >>> and the 2012 campaign saw ron paul's supporters get inside the nominating system to buck the establishment. now party leaders might face a fight on new rules put in place at the convention, to shore up the establishment and prevent the next insurgent, rand paul, say, in 2016? good morning from washington. it's thursday, january 24th, 2013. this is "the daily rundown." i'm chuck todd. apologies for the gravelly voice. i have beyonce's lip syncer standing by, shall i need her. anyway, let's get right to my first reads of the morning. secretary of state hillary clinton will be back on the hill today for what is likely to be her last appearance before congress as america's top diplomat. she'll introduce her likely successor, senator john kerry, whose confirmation begins just about an hour from now. three weeks after her release from a new y
. >>> republican reset, with a short-term debt ceiling deal in motion, speaker boehner and paul ryan talk tough on the party's path forward. this morning, we'll talk to another top house republican, georgia's tom price, about the challenges ahead. >>> and the 2012 campaign saw ron paul's supporters get inside the nominating system to buck the establishment. now party leaders might face a fight on new rules put in place at the convention, to shore up the establishment and...
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Jan 3, 2013
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let's do this again as that debt ceiling deal comes close. >>> well, on to the fiscal cliff now where lawmakers from both sides are a bit disappointed with the last minute deal they made. >> i hate this agreement. i hate it with every fiber of my being. >> here to look at some of the hated details in this bill, tax rates go up for individuals making more than $400,000 a year and families taking in more than 450,000. the estate tax goes up from 35 to 40%, but the first $5 million worth of property exempt from those taxes. the alternative minimum tax or amt has been permanently fixed meaning a lot of people who would have had to pay it now never will, plus capital gains and dividend tax rates increased from 15 to 20% for those highest earners. the big problem a lot of lawmakers have with this one, no spending cuts, at least not yet and no social security or medicare reform. president obama is back on vacation in hawaii with his family. there's no word when he signs off on the new bill and get this. another battle is already brewing. in two months as we just noted the treasury needs to i
let's do this again as that debt ceiling deal comes close. >>> well, on to the fiscal cliff now where lawmakers from both sides are a bit disappointed with the last minute deal they made. >> i hate this agreement. i hate it with every fiber of my being. >> here to look at some of the hated details in this bill, tax rates go up for individuals making more than $400,000 a year and families taking in more than 450,000. the estate tax goes up from 35 to 40%, but the first $5...
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Jan 7, 2013
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the battle of the raising of the nation's debt ceiling. a deal disappointed dozens of corporate executives part of an organization called fix the debt founded by erskine bowles and allen simpson. among those disappointed is ceo paul stebens, executive chairman of world fuel services. that's an airline services company based in miami. he joins us now. great to have you here. what's wrong with last week's fiscal cliff deal? and do both sides lack the political courage that's needed to really get down to the basics here, to deal with the real issues? >> sure. thanks for having me, thomas. look, a crisis is a terrible thing to waste. we had a moment of time, a moment of opportunity to do something comprehensive and we did not. so we haven't ever gotten to the root cause which is the long-term trajectory of the growing entitlements, spending, when we really need comprehensive reform of those to make them insolvent. we didn't get to the tax code reform. you have the debt ceiling and the sequester. you create a level of uncertainty that in the bu
the battle of the raising of the nation's debt ceiling. a deal disappointed dozens of corporate executives part of an organization called fix the debt founded by erskine bowles and allen simpson. among those disappointed is ceo paul stebens, executive chairman of world fuel services. that's an airline services company based in miami. he joins us now. great to have you here. what's wrong with last week's fiscal cliff deal? and do both sides lack the political courage that's needed to really get...
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you can also have a short-term deal not only with the continuing resolution but also the debt ceiling deal. the question, this is always a fundamental question and this is why i'll now take the glass half empty part is that house republicans still are opposed to this. the conservative ban that has been driving this train. >> if they took the vote, i mean, boehner is the only person who can call for the vote. >> speaker of the house. >> why doesn't he do it? >> i think the large part of the analysis is he thinks that if he does this that the house republican conservatives that -- the base, the rank and file, would abandon him. he might end up losing his speakership over it. i think that is the dilemma and that's how he's boxed in here. >> it looks islelike over in the senate the democrats are turning their attention to the debt ceiling now. are they giving up on the shutdown figuring we'll leave it to the conservatives in the house? >> part of it is the clock is now ticking. i don't think they're giving up on the shutdown but the clock is ticking on the debt ceiling and they're trying
you can also have a short-term deal not only with the continuing resolution but also the debt ceiling deal. the question, this is always a fundamental question and this is why i'll now take the glass half empty part is that house republicans still are opposed to this. the conservative ban that has been driving this train. >> if they took the vote, i mean, boehner is the only person who can call for the vote. >> speaker of the house. >> why doesn't he do it? >> i think...
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Feb 1, 2013
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ceiling deal, and then have consistently done that all the way through 2013, we still have had 35 straight months of private sector job growth. 157,000 new private sector jobs in the jobs report today. you know, we're continuing to make slow and steady progress. but i think actually senator blunt is correct. certainty is the problem. but what happens is that -- what needs to happen is the republicans need to engage in some introspection here. they need to it look inside themselves and realize that it is they that have been causing this uncertainty. if we were able to actually get some certainty, which senator blunt and i agree on, then we would actually get through to a long-term deal. president obama has proposed a $4 trillion deficit deal. one that is a balanced approach, which we had a debate over whether we wanted balance, through revenue and cuts or whether we wanted a cuts-only approach which the republicans proposed. and the american people decided they wanted president obama's vision. and that's the path we need to continue down so we can provide that certainty. but -- >> let me as
ceiling deal, and then have consistently done that all the way through 2013, we still have had 35 straight months of private sector job growth. 157,000 new private sector jobs in the jobs report today. you know, we're continuing to make slow and steady progress. but i think actually senator blunt is correct. certainty is the problem. but what happens is that -- what needs to happen is the republicans need to engage in some introspection here. they need to it look inside themselves and realize...
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Oct 7, 2013
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ceiling deal. >> in my view the debt ceiling, we should look for three things. number one, we should look for some significant structural plan to reduce government spending. number two, we should avoid new taxes and number three, look for ways to mitigate the harms from obama care. >> you think that some facet of the president's health care plan should be attached to an increase in the debt ceiling? >> the debt ceiling historically has been among the best leverage that congress has to reign in the executives -- >> so, yes? >> yes, yes. >> wow. cruz was backed up by fellow shutdown supporter florida congressman ted yoho, you're seeing the tremor before the tsunami here, i'm not going to raise the debt ceiling and added, i think personally think it would bring stability to the world markets. wow. a check on the markets show they are all down. jonathan allen at the "washington post," the "washington post" bureau chief at politico is up right now. ted cruz seems to be doubling down in the insanity and telling us this thing is nowhere near over? >> your words not min
ceiling deal. >> in my view the debt ceiling, we should look for three things. number one, we should look for some significant structural plan to reduce government spending. number two, we should avoid new taxes and number three, look for ways to mitigate the harms from obama care. >> you think that some facet of the president's health care plan should be attached to an increase in the debt ceiling? >> the debt ceiling historically has been among the best leverage that...
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Jan 8, 2013
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ceiling deals, averted sequestration or not averted sequestration, this is a very timely time to have this conversation and we are joined by m fantastic panel of experts to help us cut through confusion and pull back and look at some of the bigger, strategic questions that are out there. i'm joined by three folks here. michael o'hanlon, you're already met, senior fellow and director of research and foreign policy here a brookings where he specializes in defense strategy. one of the most important prolific voices and defense issues, rich and literally hundreds of op-eds, columns, and articles, including one to point to you up on foreign policy but said right now looking at defense budgets . we are joined by richard -- richard betts, one of the top thicker -- thinkers and teachers, professor and director of war and peace studies at columbia university. numerous books have garnered critical success including it was an award from the american science association for the best book of political science. also a key facilitator of a summer security studies workshop that probably somewhere aro
ceiling deals, averted sequestration or not averted sequestration, this is a very timely time to have this conversation and we are joined by m fantastic panel of experts to help us cut through confusion and pull back and look at some of the bigger, strategic questions that are out there. i'm joined by three folks here. michael o'hanlon, you're already met, senior fellow and director of research and foreign policy here a brookings where he specializes in defense strategy. one of the most...
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Jan 15, 2013
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translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has already passed. the laws that it's already passed. republicans are saying it's about borrowing authority. essentially running up the country's credit card. >> exactly. what the republicans are saying is look, we maxed out the credit card. it's time before we extend any new credit or allow any new credit to do something aboutbe the spending that got us here. that would seem on the surface to be a reasonable argument. but so far, the republicans have not been able to win it. and what tends to happen in the fights when you get all of this late hour melodrama as we have had in the last cou
translation, the debt ceiling deal didn't do enough about the debt itself. so keep this in mind when you hear it said,be with great certainty it's the republicans trying to force spending cuts over endangering the nation credit rating. as will rogers quoted once, "it isn'tbe what we don't know that gives us trouble. it's what we know that ain't so." bret? >> bret: the president has effectively turned the messaging around. by saying it's about paying the bills that congress has...
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i would hope that they would bring a debt ceiling deal clean, a cr clean and let's order the negotiations for a budget by december 13th. all these things are fine with us, but these other extraneous things, i'm not too sure that democrats are going to be for that. >> sir, let's talk about those calendar dates that we've been talking about this morning. senator, i know that the president had earlier said that he wanted the senate democrats to come up with a one-year proposal for the debt ceiling. meanwhile all this has been mashed together with the shutdown and so we've got the debt ceiling looming, we're in government shutdown mode but the senate gop has postponed their meeting coming up today at 12:30 eastern time. if this deal gets done and the president signs it and as the congressman brings up, the senate deal keeps the government funded until january 15th, raises the debt limit until february 7th and could resolve through this special committee by december 13th where proper cuts could come in, isn't this just an extension of kicking the can down the road and we end up where we are 90
i would hope that they would bring a debt ceiling deal clean, a cr clean and let's order the negotiations for a budget by december 13th. all these things are fine with us, but these other extraneous things, i'm not too sure that democrats are going to be for that. >> sir, let's talk about those calendar dates that we've been talking about this morning. senator, i know that the president had earlier said that he wanted the senate democrats to come up with a one-year proposal for the debt...
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you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will you support all incumbent house republicans no matter what under all circumstances? or -- is your job to eliminate primary opposition? >> you know, i love how you -- you know, we try to talk in absolutes here. we are a member of organization that supports republicans and republican members of the house. here's when we do and we go out and recruit. i think, you know the voters want to check and balance in washington. we are going to offer a positive alternative. great candidates. we now -- second biggest majority since world war ii c
you have the debt ceiling issue. all of those are in the mix right now because they are all coming to a head at the same time. we are going to need to deal with all of them. can't we be responsible? can't we work collaboratively on this? if we can -- hearing from the white house that, you know, you go figure it out. it is not my problem. i didn't have anything to do with this. that's not the way to go. >> let me ask you about your job as the head of the republican campaign committee. will...
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ceiling deal has sent stocks sky rocketing. ainsley, such a good day yesterday. republicans say they want to extend the government's ability to borrow six more weeks. stocks rally. we are talking the biggest point game for the entire year. the blue chip adding 320 points. the s&p that00 are likely have in your money market. of the stocks that make up the s&p, just 11 were lower. nasdaq rising 2 and a quarter percent yesterday. rally in a big way. you can call the reaction relief rally or optimism they will get a an agreement but investors were exhaling as they watched money on the side lines this week pour back into the market. there's a measure that shows how nervous investors have been. that fell sharply just 24-hours prior. so the rest of the world markets are following the u.s. stock market higher and our futures this morning indicate that today could be another good day. >> we will take it. >>> president obama finally signs a bill to tapay death benefits to soldiers during the government shut down. they said the bill was n
ceiling deal has sent stocks sky rocketing. ainsley, such a good day yesterday. republicans say they want to extend the government's ability to borrow six more weeks. stocks rally. we are talking the biggest point game for the entire year. the blue chip adding 320 points. the s&p that00 are likely have in your money market. of the stocks that make up the s&p, just 11 were lower. nasdaq rising 2 and a quarter percent yesterday. rally in a big way. you can call the reaction relief rally...
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do you think that congress will pass the debt ceiling deal before the deadline. >> it's so hard to say right now. i think that there is some optimism as far as what the senate is doing. the problem with what the senate is doing is that in order to kind of get it done by the deadline, they want to pass it through the house first so you've got a situation where the senate proposes something. the house passes it then it goes back to the senate which can a very, you know, makes it even more difficult for john boehner so it's very difficult at this point. >> all right, aaron blake with "the washington post." thanks for your time. >>> american hero recognized with the nation's highest honor. >>> plus, the battle between harry belafonte, the estate of martin luther king jr. and three important king documents, all coming up next. with new friskies grillers, full of meaty tenders and crunchy bites. ido more with less with buless energy. hp is helping ups do just that. soon, the world's most intelligent servers, designed by hp, will give ups over twice the performance, using forty percent less e
do you think that congress will pass the debt ceiling deal before the deadline. >> it's so hard to say right now. i think that there is some optimism as far as what the senate is doing. the problem with what the senate is doing is that in order to kind of get it done by the deadline, they want to pass it through the house first so you've got a situation where the senate proposes something. the house passes it then it goes back to the senate which can a very, you know, makes it even more...
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Jan 16, 2013
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the fiscal cliff and sandy relief votes do provide a template for how, by the way, the debt ceiling might ultimately get raised. on the tax deal, house republican leaders had political cover from senate republicans. on sandy, chris christie provided the political cover, leaving house leaders, frankly, cowering. now the kotch brothers, through a group they backed, called americans for prosperity, are the latest to give boehner and other house leaders cover on the debt ceiling, as they get their rank and file to pick other political fights. tim phillips, president of americans for prosperity, told the financial times, quote, we're saying calibrate your message, focus on long-term spending instead of long-term debt. focusing on the debt ceiling makes the message more difficult. when i asked walden about the debt ceiling yesterday, he was clearly noncommittal, hinting on where the republican leadership maybe is on this. if there's not a majority in the house republican to raise the debt limit, but there is a majority in the house of representatives to raise a clean debt limit, would this lead
the fiscal cliff and sandy relief votes do provide a template for how, by the way, the debt ceiling might ultimately get raised. on the tax deal, house republican leaders had political cover from senate republicans. on sandy, chris christie provided the political cover, leaving house leaders, frankly, cowering. now the kotch brothers, through a group they backed, called americans for prosperity, are the latest to give boehner and other house leaders cover on the debt ceiling, as they get their...
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hi to deal with the battles all the time with congress and negotiating. seven debt ceiling raises. white was just sort of -- everyone understood it would get raised and it was a time to remind people how big the debt was and nobody really took it seriously, press release. it was useful for that. once people started taking it seriously and said we are going to think about not paying the debt it bill absurd and it is -- it is absurd and it needs to be -- needs to go away or congress just needs to understand that that's the only use of it. a coin isn't going to solve that problem. looking at a darn corners of the constitution will not solve that problem. >> what is -- you know, the problem -- that -- republicans seem to have is it the leadership sort of knows that they really shun be playing politics of the debt ceiling. but the rank and file, they don't want any part of that. they want to play politics. >> this is the problem. this is my problem with people who are spending a lot of time, smart people. friends of ours who are spending a lot of time talking about the kooky ideas. you
hi to deal with the battles all the time with congress and negotiating. seven debt ceiling raises. white was just sort of -- everyone understood it would get raised and it was a time to remind people how big the debt was and nobody really took it seriously, press release. it was useful for that. once people started taking it seriously and said we are going to think about not paying the debt it bill absurd and it is -- it is absurd and it needs to be -- needs to go away or congress just needs to...
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i don't see a situation he is in a better negotiating position as he tries to raise the debt ceiling and deal with the issues we knew were going to dominate this fall. >> have republicans lost -- if the president can't move this forward and he is effectively a lame duck, how do republicans work with him after that at all? >> they don't. there is no real intention within the gop caucus to do anything to move this president's agenda to be cooperative. >> the president is live from st. petersburg, russia. >> the people of russia, thank you for hosting this g-10. this city has a long and storied history, including his historic resistance and extraordinary sacrifices during the second world war, so i want to take this opportunity to salute the people of st. petersburg and express our gratitude for their outstanding hospitality. this summit marks another milestone in the world's recovery from the financial kris that erupted five years ago this month. instead of the looming threat of another financial meltdown, we are focused for the first time in many years on building upon the gains that
i don't see a situation he is in a better negotiating position as he tries to raise the debt ceiling and deal with the issues we knew were going to dominate this fall. >> have republicans lost -- if the president can't move this forward and he is effectively a lame duck, how do republicans work with him after that at all? >> they don't. there is no real intention within the gop caucus to do anything to move this president's agenda to be cooperative. >> the president is live...
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if we get past the debt ceiling without a deal, even if we increase the interest rate on treasuries by one point, that's $120 billion annually. so huge costs to the real economy. there is going to be a cloud, an overhang either way, because whatever deal we get sounds like it's going to be a short-term deal. through the holidays people are going to continue to be nervous. it's going to impact investment. i can't tell you that this ends badly, but i can't tell you that it ends well. >> all right. andrew ross sorkin, i know you'll be watching. thank you for taking the time. >> thank you. >> as we look at the impact of this at the end of the week, here a poll about reelection. here's the question. would you vote to replace every member of congress if you could? 60% in our poll, 60%, said yes. chuck, you talked about it as a political depression. that is the question for all of you. are we in a political depression? >> well, when eight in ten americans say the country is headed in the wrong direction and we're not in an economic downturn -- we're not in an economic downturn. it is a fragil
if we get past the debt ceiling without a deal, even if we increase the interest rate on treasuries by one point, that's $120 billion annually. so huge costs to the real economy. there is going to be a cloud, an overhang either way, because whatever deal we get sounds like it's going to be a short-term deal. through the holidays people are going to continue to be nervous. it's going to impact investment. i can't tell you that this ends badly, but i can't tell you that it ends well. >> all...
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May 10, 2013
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what was interesting is the debt ceiling now, because the government budget numbers have been better, that's been pushed ahead now to labor day before we're going to have to deal with that again. and one of the things lew said to me was i hope congress doesn't use this rebrief to really dally on the issue. he wants congress to attack the debt ceiling during the summer. >> watching the dow and watching investors trying to make their own predictions about the economy, how much of this is a point that maybe we're at a jobless recovery, that basically corporate america -- the global corporate world figured out how to do more with less and, by the way, they're getting really good at doing more with less so there's no incentive on their part to, quote, create jobs. >> i think that's something that everybody is thinking deeply about and nobody has good answers, chuck. there are those republicans, obviously, who say that it's a matter of the regulatory wedge. in ord in other words, making it harder to hire employees. globalization, a lot of things working against the average worker today. one
what was interesting is the debt ceiling now, because the government budget numbers have been better, that's been pushed ahead now to labor day before we're going to have to deal with that again. and one of the things lew said to me was i hope congress doesn't use this rebrief to really dally on the issue. he wants congress to attack the debt ceiling during the summer. >> watching the dow and watching investors trying to make their own predictions about the economy, how much of this is a...
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Jan 14, 2013
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>>> right now on andrea mitchell reports, the president tells house republicans no deals on the debt ceiling. >> the issue here is whether or not america pays its bills. we are not a deadbeat nation. >> taking a stand on the one-month anniversary of the newtown massacre. the families speak out. >> this is a promise to turn the conversation into actions. things must change. this is the time. this is a promise we make to our precious children because each child, every human life, is filled with promise, and though we continue to be filled with unbearable pain, we choose love, belief, and hope instead of anger. >> calling them out. tough words from former secretary of state general colin powell for his fellow republicans on race. >> there's also a dark vein of intolerance many some parts of the party. >> the end of the longest war and the man president obama has nominated to wind it down coming up. retired general stanley mcchrystal on chuck hagel. the exit strategy from afghanistan and his own career. >>> plus, show stopper. president clinton he should the standing ovation with his sur
>>> right now on andrea mitchell reports, the president tells house republicans no deals on the debt ceiling. >> the issue here is whether or not america pays its bills. we are not a deadbeat nation. >> taking a stand on the one-month anniversary of the newtown massacre. the families speak out. >> this is a promise to turn the conversation into actions. things must change. this is the time. this is a promise we make to our precious children because each child, every...
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Jan 6, 2013
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the debt ceiling deal back in april of 2011 cuts $38.5 billion in spending. if you scale that down to your family example we just showed you, that would be like paying down $154,000 credit card balance by $385. so bigger automatic cuts are expected in two months, but our next guests, alan simpson and erskine bowles, two men who were on the president's debt commission, think it won't be enough. they say washington missed a magic moment to do something big. they are here to tell us where the fiscal cliff deal falls short. up next, right after this co ♪ [ male announcer ] how do you make 70,000 trades a second... ♪ reach one customer at a time? ♪ or help doctors turn billions of bytes of shared information... ♪ into a fifth anniversary of remission? ♪ whatever your business challenge, dell has the technology and services to help you solve it. whatever your business challenge, i've always kept my eye on her... but with so much health care noise, i didn't always watch out for myself. with unitedhealthcare, i get personalized information and rewards for a
the debt ceiling deal back in april of 2011 cuts $38.5 billion in spending. if you scale that down to your family example we just showed you, that would be like paying down $154,000 credit card balance by $385. so bigger automatic cuts are expected in two months, but our next guests, alan simpson and erskine bowles, two men who were on the president's debt commission, think it won't be enough. they say washington missed a magic moment to do something big. they are here to tell us where the...
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Jan 7, 2013
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the debt ceiling deal back in april of 2011 cuts $38.5 billion in spending. if you scale that down to your family example we just showed you, that would be like paying down $154,000 credit card balance by $385. so bigger automatic cuts are expected in two months, but our next guests, alan simpson and erskine bowles, two men who were on the president's debt commission, think it won't be enough. they say washington missed a magic moment to do something big. they are here to tell us where the >>> we are back. joining me now, two of the nation's leading voices on fiscal responsibility, former republican senator alan simpson and former clinton chief of staff erskine bowles. welcome to you both. mr. bowles, let me start with you. you heard leader mcconnell. he said the question of revenue is now over. they have done this fiscal cliff deal, and there's no more concern among republicans about raising more revenue. how do you respond to that? >> well look, i think he's right about a lot of stuff. first of all, we've done all the easy stuff. all of the hard decisions l
the debt ceiling deal back in april of 2011 cuts $38.5 billion in spending. if you scale that down to your family example we just showed you, that would be like paying down $154,000 credit card balance by $385. so bigger automatic cuts are expected in two months, but our next guests, alan simpson and erskine bowles, two men who were on the president's debt commission, think it won't be enough. they say washington missed a magic moment to do something big. they are here to tell us where the...
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Jan 6, 2013
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the debt ceiling deal back in april of 2011 cuts $38.5 billion in spending. if you scale that down to your family example we just showed you, that would be like paying down $164,000 credit card balance by $385. so bigger automatic cuts are expected in two months, but our next guests, alan simpson and erskine bowles, two men who were on the president's debt commission, think it won't be enough. they say washington missed a magic moment to do something big. they are here to tell us where the fiscal cliff deal falls short. up next, right after this commercial break. ] ring. ring. progresso. i just served my mother-in-law your chicken noodle soup but she loved it so much... i told her it was homemade. everyone tells a little white lie now and then. but now she wants my recipe [ clears his throat ] [ softly ] she's right behind me isn't she? [ male announcer ] progresso. you gotta taste this soup. [ sneezes ] [ sniffles ] [ female announcer ] for everything your face has to face. face it with puffs facial tissues. puffs has air-fluffed pillows for 40% more cushion
the debt ceiling deal back in april of 2011 cuts $38.5 billion in spending. if you scale that down to your family example we just showed you, that would be like paying down $164,000 credit card balance by $385. so bigger automatic cuts are expected in two months, but our next guests, alan simpson and erskine bowles, two men who were on the president's debt commission, think it won't be enough. they say washington missed a magic moment to do something big. they are here to tell us where the...
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Sep 24, 2013
09/13
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is the big deficit deals, the deals that get done on these budget fights, the debt ceiling usually is the impetus for negotiation? >> well, i can tell you we're running a great risk here. we're in economic recovery, creating jobs. if we create a question as to whether or not the full faith and credit of the united states can be counted on, it's going to cost us dearly. i just think playing these doomsday scenarios of shutting down the government, failing to extend the debt ceiling, for a handful of republican leaders that may sound like good politics, but for most responsible leaders in both political parties it's exactly the wrong way to go. >> it seems to me the most likely scenario in all these hoedowns you guys are having, political showdowns, budget, debt ceiling, sequestration coming up, and i apologize for using that term, but the idea of freezing some of these spending levels, is all of this going to continue to be two month and three-month punts where you guys just -- you get to the brink, you don't actually shut down, there's no defall, but what you pass is sort of a three m
is the big deficit deals, the deals that get done on these budget fights, the debt ceiling usually is the impetus for negotiation? >> well, i can tell you we're running a great risk here. we're in economic recovery, creating jobs. if we create a question as to whether or not the full faith and credit of the united states can be counted on, it's going to cost us dearly. i just think playing these doomsday scenarios of shutting down the government, failing to extend the debt ceiling, for a...
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Oct 14, 2013
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if we get past the debt ceiling without a deal, even if we increase the interest rate on treasuries by one point, that's $120 billion annually. so huge costs to the real economy. there is going to be a cloud, an overhang either way, because whatever deal we get sounds like it's going to be a short-term deal. through the holidays people are going to continue to be nervous. it's going to impact investment. i can't tell you that this ends badly, but i can't tell you that it ends well. >> all right. andrew ross sorkin, i know you'll be watching. thank you fo taking the time. >> thank you. >> as we look at the impact of this at the end of the week, here a poll about reelection. here's the question. would you vote to replace every member of congress if you could? 60% in our poll, 60%, said yes. chuck, you talked about it as a political depression. that is the question for all of you. are we in a political depression? >> well, when eight in ten americans say the country is headed in the wrong direction and we're not in an economic downturn -- we're not in an economic downturn. it is a fragile
if we get past the debt ceiling without a deal, even if we increase the interest rate on treasuries by one point, that's $120 billion annually. so huge costs to the real economy. there is going to be a cloud, an overhang either way, because whatever deal we get sounds like it's going to be a short-term deal. through the holidays people are going to continue to be nervous. it's going to impact investment. i can't tell you that this ends badly, but i can't tell you that it ends well. >> all...
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Feb 6, 2013
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if you lost track of the debt ceiling and budget battles t came out of the debt limit deal. it was the white house's idea to hold washington's feet to the fire. the cuts were never supposed to happen. the committee that replaced them failed and at the start of the ewe near, the deal triggered even further until march 1st. we are faced with the looming cuts a few weeks away that boiled down to $85 billion that will be slashed by this fall if nothing happens. the focus has been on the cuts and the entire $1.2 trillion will be a 50-50 defense between defense and spending. to put us into perspective is the center for social inclusion. the sequester was designed to be something that would never happen. prot expect would scare washington into coming out with something else. there sounds out of washington, particularly from republicans that they might be okay with nothing happening and sequester being triggered. half is defense and half non-domestic discretionary spending. can you explain to people what would be cut if the sequester goes into effect. >> it's a pleasure to be here.
if you lost track of the debt ceiling and budget battles t came out of the debt limit deal. it was the white house's idea to hold washington's feet to the fire. the cuts were never supposed to happen. the committee that replaced them failed and at the start of the ewe near, the deal triggered even further until march 1st. we are faced with the looming cuts a few weeks away that boiled down to $85 billion that will be slashed by this fall if nothing happens. the focus has been on the cuts and...
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Oct 17, 2013
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passage by the house of that budget and debt ceiling deal. we will get his ideas of what he would like to do going forward. his road map is what we expect to hear and that starts in ten minutes and we'll go straight to that when it does happen. as we're waiting for that, reps unleashing fierce reaction at the deal and some members of his own party. john mccain on house gop members who wanted the shutdown and debt fight. >> the problem with their strategy was is that it was a fol's errand. we were not going defund obama care and that's why we had an election in 2012. it was a terrific mistake. we inflicted pain on the american people that was totally unnecessary and we cannot do this again. >> so again, as we wait for the president to speak we want to bring in gop congressman who called the shutdown tactic suicidal in the past. tom cole from oklahoma. good day to you. we had a busy day. what did the republican party here get from the shutdown and debt fight. you heard senator mcdane there. >> frankly, we kept our conference unified. we made th
passage by the house of that budget and debt ceiling deal. we will get his ideas of what he would like to do going forward. his road map is what we expect to hear and that starts in ten minutes and we'll go straight to that when it does happen. as we're waiting for that, reps unleashing fierce reaction at the deal and some members of his own party. john mccain on house gop members who wanted the shutdown and debt fight. >> the problem with their strategy was is that it was a fol's errand....
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Jan 31, 2013
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. >>> in the next hour, the senate is expected to vote on and pass the house's debt ceiling deal. a bill that su spends the debt limit for four months and foregoes the threat of default but doesn't end the fiscal threat. sequestration looms large over the capitol. a provision in the bill being voted on today would whoeld house and senate salaries new york city budget, no pay. there's an incentive. joining us is virginia congressman robert scott and, congressman, let's start actually with what we have already looked at and then move forward from there. the fiscal cliff deal that passed which basically extended the bush tax cuts for those under $450,000, modified the state tax, moved the capital gains rate up to 20%, was that a good or bad deal for the american people? >> we don't know yet because what we did is half of the budget. the tax cut part of the budget. we didn't do how to pay for it part of the budget. the problem that we have gotten ourselves in to is people trying to do budgets as if the taxes and spending are unrelated. they keep talking about reducing the size of gove
. >>> in the next hour, the senate is expected to vote on and pass the house's debt ceiling deal. a bill that su spends the debt limit for four months and foregoes the threat of default but doesn't end the fiscal threat. sequestration looms large over the capitol. a provision in the bill being voted on today would whoeld house and senate salaries new york city budget, no pay. there's an incentive. joining us is virginia congressman robert scott and, congressman, let's start actually...
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Oct 8, 2013
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what i've said about the debt ceiling deal is just this. we ought to tie spending reductions in a plan to reduce the deficit with the debt ceiling. every major spending reduction deal of the last 30 years has been done with the debt ceiling. the president is the one that is saying he wants to change that trend, and do this entire debt ceiling proposal without any efforts. >> with all due respect sir, the democrats have come down to about the paul ryan spending number. what you just talked about, the compromises you want, are still on the affordable care act, which are not about spending. that is a settled policy. you're still tying the affordable care act to raising the debt ceiling. you just did it. >> no, i mean, i -- you're -- i'm not -- we've got two issues here. the continuing resolution, the proposals i talked to about the affordable care act are connected with the continuing resolution. what i've told you with the debt ceiling is that we ought to focus on bringing spending reductions to the table like we have done with every major --
what i've said about the debt ceiling deal is just this. we ought to tie spending reductions in a plan to reduce the deficit with the debt ceiling. every major spending reduction deal of the last 30 years has been done with the debt ceiling. the president is the one that is saying he wants to change that trend, and do this entire debt ceiling proposal without any efforts. >> with all due respect sir, the democrats have come down to about the paul ryan spending number. what you just talked...
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Jan 6, 2013
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ceiling as part of a larger deal. if you take a closer look at the polling, once you name individual spending cuts, voters are less inclined to support them. if you name individual programs that they would cut. generally voters support spending cuts in conjunction with the debt ceiling. >> there are polls showing republicans would have taken the blame if no fiscal cliff deal had been achieved. is there a thinking honest republicans -- amongst republicans that that will shift and if we fail to raise the debt limit we default on our loans, it's the white house and democrats would get the blame and not republicans? >> republicans hope that's the case. i don't think that's very likely. either they'll share the blame, if there's a government shutdown or you states defaults on credit. the last time the government shut down in '95 and 9 # '6 it was the house of representatives. >> your washington colleagues have been writing about the infighting, the division within the reason party. is that overstated and is there a way for
ceiling as part of a larger deal. if you take a closer look at the polling, once you name individual spending cuts, voters are less inclined to support them. if you name individual programs that they would cut. generally voters support spending cuts in conjunction with the debt ceiling. >> there are polls showing republicans would have taken the blame if no fiscal cliff deal had been achieved. is there a thinking honest republicans -- amongst republicans that that will shift and if we...
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Oct 11, 2013
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while there's still no deal to raise the debt ceiling, the two sides hinted they could agree to something soon. at least in time to make sure the country doesn't flirt with default on its bill next week. any temporary debt ceiling fix would last no more than six or eight weeks. and speaker john boehner acknowledged it is designed simply to buy time. >> clearly you could end up back in the same place and we don't want to be there. >> while the deal will not reopen the government, the white house signalled potential support for the debt ceiling proposal. >> the president is happy that cooler heads at least seem to be prevailing. in the house. there at least seems to be a recognition that default is not an option. >> reporter: but harry reid was a bit more skeptical. >> the house has a unique form of legislating. it's hour by hour. >> reporter: which brings us back to the government shutdown. something that has rattled the public. in our new nbc news poll, 65% believe it's doing harm to the economy. and one in three said it has impacted their own lives. primarily, republicans are the losers
while there's still no deal to raise the debt ceiling, the two sides hinted they could agree to something soon. at least in time to make sure the country doesn't flirt with default on its bill next week. any temporary debt ceiling fix would last no more than six or eight weeks. and speaker john boehner acknowledged it is designed simply to buy time. >> clearly you could end up back in the same place and we don't want to be there. >> while the deal will not reopen the government, the...
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Oct 9, 2013
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reporter: that is right, back in 2011, leading up to the last debt ceiling deal, we saw gold pricing again and standard & poor's downgraded the u.s. credit rating. but this time the price in gold has been declining ahead of the debt ceiling deal and it's actually down 1.3% since the shutdown went into effect and it has lost more than a fifth of its value. about 22% since january of this year and not put this on track worth the annual performance since 1981. 370-dollar decline has been the biggest annual dollar drop ever. they do not expect gold to jump this time around. president obama's nomination is are is and will and her son at it and it is time to back off, probably been consistent all the work that he has done thus far. >> the civilian who stepped in front and ended this confrontation then he didn't have it done in he didn't have anything couldn't this undercover cop have done the same thing? >> that's right, motorcyclist actually the motorcyclist actually contributed to the violence at the end. they are driving for a long time before they get to the area, he could have tried t
reporter: that is right, back in 2011, leading up to the last debt ceiling deal, we saw gold pricing again and standard & poor's downgraded the u.s. credit rating. but this time the price in gold has been declining ahead of the debt ceiling deal and it's actually down 1.3% since the shutdown went into effect and it has lost more than a fifth of its value. about 22% since january of this year and not put this on track worth the annual performance since 1981. 370-dollar decline has been the...
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Jan 3, 2013
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dry on that deal and rev for the debt ceiling negotiations. they're going in claiming they have a mandate. the problem is we're going to see another big dust-up, the brinksmanship that we saw from the miss fiscal cliff deal and boehner saying he won't have any one-on-one meetings with president obama and president obama saying he won't have any meetings either. i think we're in for another big showdown. >> the republicans are saying revenue is done, no more talk about taxes and now it's just spending cuts. let me play what grover norquist said to to andrea mitchell yesterday. >> the one piece of clout that he had was this threat to raise taxes on everyone and the republicans gave him some of what he wanted and couldn't take everything back off the table in terms of protecting taxpayers. but that's gone. >> jackie, has the president lost his leverage now? >> i don't know about that. i think it's a good thing that biden and mcconnell are still around when you hear that. >> somebody will talk. >> somebody will talk. i think like nia said, there's
dry on that deal and rev for the debt ceiling negotiations. they're going in claiming they have a mandate. the problem is we're going to see another big dust-up, the brinksmanship that we saw from the miss fiscal cliff deal and boehner saying he won't have any one-on-one meetings with president obama and president obama saying he won't have any meetings either. i think we're in for another big showdown. >> the republicans are saying revenue is done, no more talk about taxes and now it's...
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the dow jumped 200 points in reaction to news that a debt ceiling deal had been reached in the senate, and that's before the ink on the deal was even dry. we'll get to the politics of this all in a moment. but first, cnn's zain asher is live at the new york stock exchange with more on the stock surge. zain? >> reporter: hi, jake. yeah, so much excitement here on wall street, so much optimism. you know, not even a ratings agency giving us a warning card was enough to deter investors. traders have been trying to block out the noise and focus squarely on the fact that they believe that they know that a deal is going to get done. at one point, the dow surged 206 points. i've been speaking to traders all morning. i said, there's no deal just yet, so why the optimism? they say, look, we know how washington works. we know that no politician wants to pick up the pieces of a possible default. and even if we don't see a deal tonight, we know the treasury has enough money to buy us some time. but the worry among some traders is is that the markets really haven't reacts strongly enough to force w
the dow jumped 200 points in reaction to news that a debt ceiling deal had been reached in the senate, and that's before the ink on the deal was even dry. we'll get to the politics of this all in a moment. but first, cnn's zain asher is live at the new york stock exchange with more on the stock surge. zain? >> reporter: hi, jake. yeah, so much excitement here on wall street, so much optimism. you know, not even a ratings agency giving us a warning card was enough to deter investors....
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debt ceilings are going to be the trigger. that was rob portman making the debt ceiling threat, not somebody more idea logical. there's no incentive for republicans to make a deal with a weaker hand. it may be the last window the white house has. republicans of the house are going to run into a pr problem if they don't even pretend they want to negotiate with snalt democrats. they have refused to name their -- to the conference committee to begin their process of hammering out a real deal. yesterday, congressman ryan had an odd explanation as to why they're not doing that. >> when does the clock start? >> so, we do want to go to conference, but when we have a good chance of getting something done. the president should get create for putting chain cpi out there. wasn't in our budget, wasn't in patty's budget. if we go to congress early, i can guarantee you'll see votes on the house floor prior to going to conference where nobody votes and it makes it that much harder to be part of the final agreement. >> what's paul ryan talkin
debt ceilings are going to be the trigger. that was rob portman making the debt ceiling threat, not somebody more idea logical. there's no incentive for republicans to make a deal with a weaker hand. it may be the last window the white house has. republicans of the house are going to run into a pr problem if they don't even pretend they want to negotiate with snalt democrats. they have refused to name their -- to the conference committee to begin their process of hammering out a real deal....